HONG KONG, July 1, 2024 /PRNewswire/ — On June 27, 2024, Yidu Tech Inc. (the ”Company” or ”Yidu Tech”) (2158.HK), a leader in China’s AI medical industry, announced its results for the 2024 fiscal year. During the reporting period, the Company recorded revenue of RMB 807.1 million. Gross profit margin in FY2024 increased to 42.1% from 34.1% in FY2023, representing an increase of 8 percentage points, hitting a record high. Adjusted net loss narrowed from RMB 448.7 million in FY2023 to RMB158.1 million, down 64.8% year-on-year. The management of Yidu Tech said at the annual results conference the next day that excluding strategic investments in proprietary large language model, non-cash items, and non-operating items, the adjusted EBITDA for our current business has achieved profit, moving from a RMB 327 million loss to a profit of RMB 31.1 million for the first time this fiscal year.

Management added that as of market close on June 27, the Company’s P/B ratio has decreased to 1.06. Not including the valuation of its domestic and international businesses, its market value is still lower than its fund reserves on hand. As such, management believes that the Company’s share price is still severely undervalued. Notably, renowned sovereign fund BIA has continually increased its shareholding of Yidu Tech by 21.50% over the past two months. The management is confident in the Company’s long-term growth potential and hopes to continually create innovative technologies and increase returns to its shareholders.
In FY2024, Yidu Tech focused on its core business, improving internal operating efficiency and earning quality. Among its earnings, revenue from its big data platform and solutions segment reached RMB 313.6 million, an increase of 41.4% year-on-year. Revenue from its life science solutions segment reached RMB 324.0 million, up 28.1% year-on-year and the gross margin increased by 14.6 percentage points to a historical high of 32.1%. Revenue from its health management platform and solutions segment reached RMB 169.5 million, and the gross profit margin of this segment was 58.1%, representing a year-on-year increase of 17.4 percentage points.
During the reporting period, the Company has continued the development and training of large language model in the medical vertical field based on 500 billion fine-trained Tokens, with model training for 6B, 13B, and 70B parameters completed.

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REYKJAVIK, Iceland, June 28, 2024 /PRNewswire/ — Lucinity has been recognized as a finalist in the AI Innovation category at the prestigious Microsoft Global Partner Awards 2024, recognizing its breakthrough AI solution and contribution to financial security through its collaboration with Microsoft. 

Lucinity beat more than 4,700 companies to be named a finalist at the annual Microsoft Global Partner Awards, which highlights Lucinity’s achievements as a Microsoft partner in optimizing business processes, improving customer experiences, and opening new pathways for digital transformation.
This achievement comes in addition to winning two prestigious awards at Microsoft Partner Awards 2024 last month, including Partner of the Year – Iceland, and the Sustainability and Social Impact award.
The accolade recognizes Lucinity’s significant advancements in AI for financial crime operations, particularly through their AI-powered copilot, Luci. This innovative solution utilizes Microsoft Azure OpenAI technology to integrate advanced generative AI into financial crime investigations and regulatory compliance, optimizing processes and saving significant time and resources for financial institutions.
The Lucinity platform streamlines compliance, provides instant insights, and reduces typical investigation times from three hours to just 30 minutes. The technology can also save financial institutions an estimated $100 million in productivity savings, as well as savings in training and recruitment.
Microsoft comments on Lucinity’s award recognition, saying “Financial crime profoundly impacts our global community, with far-reaching economic, security, and social implications. It can harm a country’s reputation and increase exposure to criminal activities, emphasizing the critical need for robust anti-money laundering initiatives and persistent vigilance. Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”
“Being recognized as a finalist at the Microsoft Global Partner Awards is  validation of our impactful collaboration with Microsoft in financial crime operations. Our partnership has been pivotal for our innovations, enabling us to use Azure OpenAI to bring tools like Luci to life and deliver impactful results for our clients,” says Guðmundur Kristjánsson, Founder & CEO of Lucinity.
Contact:Name: Celina PabloEmail: [email protected]: +354 792 4321
Logo: https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg

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BEIJING, June 28, 2024 /PRNewswire/ — Bionic robots that speak both Chinese and English can have the same skin and nails as humans? A flying car powered solely by wind can have a maximum payload of 160 kg? A smart wheelchair can control its operation with just the “mind”? Kevin and Daria, two foreign bloggers, have experienced during the World Intelligence Expo held in Tianjin how the artificial intelligence can empower people’s future lives in industries such as technology, trade, logistics and cultural tourism.

 
With the theme of “Intelligent Travel Empowering Future”, the Expo integrates exhibitions, experiences and events, attracting more than 550 exhibitors and institutions from all over the world, including more than 70 well-known enterprises such as Huawei, Alibaba, Baidu and Danfoss, and 57 universities and research institutions such as Peking University, Tsinghua University, Nankai University and Tianjin University. The Expo set up 10 major themes such as artificial intelligence, intelligent networked vehicles, intelligent manufacturing and robots, covering the frontier hot spots of the intelligent industry. A number of cutting-edge new technologies, new products, and new experiences from all over the world were showcased centrally, reminding people that technology will completely change the lifestyles in the future.
At the exhibition site, various intelligent robot products such as humanoid robots, bionic robots, and intelligent robot dogs interact with the audience on the spot. They are no longer fantasies in science fiction or movies, but play an important role in monitoring, rescue, cultural tourism and other fields. In the low-altitude economic exhibition area, a number of drones, flying vehicles, and aerospace technology companies collectively display advanced technology products. A low-altitude aircraft shaped like a helicopter brought by the German company Tensor can independently complete cargo transportation, takeoff and landing according to pre-set routes according to the instructions. Robotic arms incorporating technologies such as 5G, IoT, edge computing, rocker robotics, and artificial intelligence can shoot high-frame-rate video and support autofocus, achieving effects that cannot be achieved in traditional shooting modes. Viewers can also have more novel experiences with the help of smart technology.
The Expo also hosted three major events such as the Asia-Pacific Robotics World Cup Tianjin International Invitational, the World Intelligent Driving Challenge, and the International Intelligent Sports Conference. A number of technological achievements and innovative applications were demonstrated in the competitions. For exhibiting companies, this Expo is also an opportunity to further promote the transformation of enterprises to information technology and digitalization, and will also bring huge business opportunities.
Contact: Guo RanPhone: 008610-68332663Email: [email protected] 
Video: https://www.youtube.com/watch?v=VjjzurfN_r0 Logo:  https://mma.prnewswire.com/media/2451195/logo_Asia_Pacific_View_Logo.jpg
 

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